Reported about 20 hours ago
BlackRock Inc. has announced its acquisition of HPS Investment Partners in an all-stock deal valued at approximately $12 billion, significantly enhancing its presence in the private credit sector. The founders of HPS will spearhead a new business unit for BlackRock, which anticipates a 40% increase in its private market fee-paying assets under management. This acquisition forms part of BlackRock's strategy to expand its offerings in private assets, following its recent purchase of Global Infrastructure Partners.
Source: YAHOO